Protecting Your Income

Income Protection 

Income insurance pays you a regular income if you can’t work because of an injury or illness while you are employed.

Payments are made to you whilst you recuperate and return to work.

This means you can still meet your bills, and other day-to-day expenses that won’t go away even if you can’t go to work.

How it Works

Cover a percentage of your salary

If you’re employed but can’t work, you can have cover up to 75% of your annual earnings (less benefits from the state or other protection plans) or €250,000 a year.

How long you can claim

While you’re employed, a claim will be paid until you return to work, or your plan ends. Your payments are treated as income for tax purposes. Payments can start after 13, 26 or 52 weeks of continuous absence from work.

Income tax relief

The premiums you pay are eligible for income tax relief, which can reduce the cost of your cover by up to 40%. You must claim this tax relief from Revenue.